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Foreign aid : use of local currencies for AID's operating costs : report to the Chairman, Subcommittee on Legislation and National Security, Committee on Government Operations, House of Representatives

Pursuant to a congressional request, GAO reviewed the Agency for International Development's (AID) implementation and management of trust fund local currencies accruing from Economic Support Fund agreements to pay local operation expenses at AID missions overseas.

GAO found that AID: (1) increased the use of trust funds to pay the operating expenses of its missions from $12.4 million obligated in fiscal year (FY) 1983 to $55 million in FY 1985; (2) has not always fulfilled its fiduciary responsibilities in reporting trust fund expenses to host governments; and (3) sometimes gave inaccurate information to Congress and did not disclose real property acquisitions.

Abstract:

Pursuant to a congressional request, GAO reviewed the Agency for International Development's (AID) implementation and management of trust fund local currencies accruing from Economic Support Fund agreements to pay local operation expenses at AID missions overseas.

GAO found that AID: (1) increased the use of trust funds to pay the operating expenses of its missions from $12.4 million obligated in fiscal year (FY) 1983 to $55 million in FY 1985; (2) has not always fulfilled its fiduciary responsibilities in reporting trust fund expenses to host governments; and (3) sometimes gave inaccurate information to Congress and did not disclose real property acquisitions.

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Foreign aid : use of local currencies for AID's operating costs : report to the Chairman, Subcommittee on Legislation and National Security, Committee on Government Operations, House of Representatives/United States. General Accounting Office.;; Washington, D.C. : The Office, 1988.